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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Wednesday, May 16, 2012

Contagion risk deepens as new Greek elections called

Contagion risks deepen as new Greek elections calledCNNBy Chris Isidore @CNNMoneyInvest May 15, 2012: 1:37 PM ET NEW YORK (CNNMoney) -- The threat of contagion in Europe deepened Tuesday, when Greece announced it would hold new elections in June after failing to form a coalition government.

Eurozone avoids recession as Germany powers aheadBusinessWeekGermany propped up the ailing eurozone economy during the quarter, preventing it from falling back into recession -- officially defined as two consecutive quarters of negative growth. Without it, the economy of the remainder of the eurozone would have ...

Eurozone data pose dilemma for OsborneFinancial TimesBy Sarah O'Connor, Economics Reporter News the eurozone managed to avoid slipping back into recession in the first quarter presented Britain's coalition government with an uncomfortable question. Why is the UK in a double-dip recession when the ...

Euro-Zone Economy Defies Doom-MongersWall Street Journal (blog)By RICHARD BARLEY The euro zone refuses to stick to the script. The currency bloc was predicted to slide back into recession in the first quarter; instead, the economy flat-lined, an improvement on the previous quarter's 0.3% contraction and well ahead ...Wall Street Journal (blog)

Euro Zone Economy Skirts RecessionNew York TimesThat surprise news resided deep within first-quarter economic data for Europe released Tuesday that also showed, to everyone's mild relief, that the euro zone as a whole has still avoided slipping into a regional recession. Greece, where the economy ...New York Times

Euro-Zone Economy Steadies As Split EmergesWall Street JournalBy PAUL HANNON LONDON—The euro-zone economy steadied in the three months to March as a surprisingly strong rebound in Germany was balanced by contractions in Italy and Spain. According to a definition accepted by many economists, two straight quarters ...

Eurozone Economic Growth Stalled in Early 2012Voice of AmericaEarlier projections in recent weeks signaled that the eurozone had fallen into a recession in the January-to-March period this year, after contracting three-tenths of a percent in the last three months of 2011. But the region's economic powerhouse,...Voice of America

Greece to hold new election, jolts euro marketsReutersThe tremors from Greece, compounding worries about Spain's debt-laden banking system, ended any honeymoon for new French President Francois Hollande, thrusting the growing risks to the euro zone to the top of the agenda for his first meeting with ...

FOREX-Euro sinks to fresh 4-month low on Greek woesReuters* Dollar gains on data and safe-haven flows * Euro falls with no government in Greece * Common currency vulnerable to risk of contagion By Gertrude Chavez-Dreyfuss NEW YORK, May 15 (Reuters) - The euro dropped to a new four-month low against the dollar ...

European Stocks SinkWall Street JournalThough not totally insulated from the euro-zone's sovereign debt crisis, the UK's FTSE 100 fared a little better, closing down 0.5% at 5437.62. Greece's president conceded defeat Tuesday as politicians could not agree on a coalition following the ...

Doomsday scenario for the eurozone?CNN (blog)By Paul Ames, GlobalPost It was the scenario never to be named — a prospect so terrible that the mere mention of it would conjure up doom and destruction for the eurozone. In the last few days, however, the risk that Greece could be forced out of the ...

Germany Helps Euro Zone Avoid RecessionTIMEEurostat, the EU's statistics office, reported that the euro-zone economy was flat when compared to the previous quarter — though some members of the single-currency bloc had fared much better than others. (LIST: 10 Big Recession Surprises) The ...

EU Finance Ministers Talk Tough On Greece As New Elections LoomWall Street JournalSwedish Finance Minister Anders Borg warned Greece may be nearing the end of its time in theeuro zone. "We are very close to the end of the road," Borg told reporters in Brussels. "The situation is very serious." The prospect of new elections that may ...

FOREX-Euro slumps to fresh 4-month low; Greece weighsReuters* Dollar gains on data and safe haven flows * Euro falls with no government in Greece * Common currency vulnerable to risk of contagion NEW YORK, May 15 (Reuters) - The euro slid to a fresh four-month low against the dollar on Tuesday after a spokesman ...

Euro zone finance ministers dismiss Greek exit "propaganda"ReutersBy Jan Strupczewski and Valentina Za | BRUSSELS/ATHENS (Reuters) - Euro zone finance ministers dismissed talk of Greece leaving the euro zone as "propaganda and nonsense" on Monday, but said the country had to respect the terms of the bailout program ...

FOREX-Euro makes fragile gains on robust German dataReuters* Euro recovers from low of $1.2814, German GDP helps * Common currency vulnerable to risk of contagion * Dollar index hovers close to four-month high By Nia Williams LONDON, May 15 (Reuters) - The euro held above a four-month low on Tuesday after ...

Assessing the Odds of a Greek Euro ExitBusinessWeekBy Carol Matlack on May 15, 2012 Has a Greek exit from the euro zone become inevitable—even desirable? Some European leaders appeared ready to let Greece walk after an anti-austerity backlash in May 6 elections left the country without a government.

Euro zone set to enter recession as fortunes divergeReutersBy Robin Emmott | BRUSSELS (Reuters) - The euro zone's sick economy probably slipped into its second recession in just three years in early 2012, data is due to show on Tuesday, as the debt crisis sucks southern Europe into a downward spiral and widens ...

Rajan Menon: Whither Eurozone Austerity?By Rajan MenonEurope's political winds have shifted over the past month. The first sign of this preceded the event now being hailed as the catalyst, Sarkozy's loss in France's presidential election, and it occurred in an unlikely place: the Netherlands.The Full Feed from HuffingtonPost.com

The New Nostradamus of the North: The euro crisis: Kabuki ...By NNoNWhile Greece is burning, the euro zone decision makers are continuing their version of the traditional Japanese kabuki theater. Particularly, the euro zone chairman, Luxembourg´s Jean-Claude Juncker has aquired an important element of the ...The New Nostradamus of the North

Eurozone crisis 2012: What you missed while you were sleeping ...By James PethokoukisGermany pulled the euro zone's economy back from the brink of recession at the start of 2012 but stagnation in France and contraction in southern Europe underlined sharply differing fortunes in a bloc laboring under the effects of austerity.The Enterprise Blog

EU and Eurozone GDP, first quarter 2012: German growth due to ...By merijnknibbeToday, Eurostat published data on first quarter GDP in the Eurozone and the EU. Some cherries: * an increasing number of countries has slipped into a technical recession (two subsequent quarters in which seasonally adjusted GDP declines) ...Real-World Economics Review Blog

Eurozone GDP Growth: 0.0% - Business InsiderBy Joe WeisenthalEurozone GDP growth came in at 0.0%. That's better than some estimates, which were calling for a slight loss. It's still no growth, and it's unevenly distributed, with the core getting the gains (especially Germany) and much of Europe falling into ...Clusterstock

NewsDaily: Euro zone finance ministers dismiss Greek exit ...By Jan Strupczewski and Valentina ZaEuro zone finance ministers dismissed talk of Greece leaving the euro zone as "propaganda and nonsense" on Monday, but said the country had to respect the terms of the bailout program agreed with the EU and the International Monetary ...NewsDaily: Business Headlines

Greek Financial Crisis: Negotiations To Form Government ContinueBy The Huffington Post News EditorsATHENS, Greece — Marathon efforts to break Greece's post-electoral paralysis are lurching into a ninth day amid the country's worst crisis in decades, with fractious party leaders summoned to a yet another emergency meeting Tuesday that ...The Huffington Post | Full News Feed

Far Left Risks Greece's Expulsion From Eurozone | Atlantic SentinelBy Nick OttensGreek left wing parties rejected proposals to support a technocratic government on Tuesday, a last ditch effort by Greece's president to avert new elections and possibly bankruptcy. “We don't want to consent to any kind of bailout policies, even ...Atlantic Sentinel

Democratizing the Eurozone — Social Europe JournalBy Vivien SchmidtIn recent months, more and more attention has been focused on the failure of the Eurozoneleaders' policies of fiscal consolidation, with growth presented as the alternative. The problems for the Eurozone stem not just from the policies, ...Social Europe Journal» Columns

Fuel Fix » Strong German GDP eases eurozone fearsBy FT.com - EnergyStrong German GDP eases eurozone fears. ... News the German economy is standing stoic within the eurozone helps to ameliorate fears about any possible Greek exit from the monetary union. Read more from Financial Times ...Fuel Fix

The Daily Banter » Greece Close to Euro Zone Exit as Talks FailBy Ben Cohen AdminGreece Close to Euro Zone Exit as Talks Fail. By Ben Cohen Admin. May 14,2012. Greece default copy resized. Negotiations on forming a new Greek government have ended after an hour but will resume on Tuesday. Three previous attempts ...The Daily Banter